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Music Remember to hit Follow so you don't miss an episode. This is CBS Eye on the World.

Here's John Bachelor.

This is CBS, I on the World.

I'm John Bachelor. Michael Bernstein of the Hoover Institution is here.

My guide on the sanctions regime by the United States and by the EU because of Russia's

aggression in Ukraine. Topsie Turvey now with conversation between Russia and the United States in the Riyadh.

Conversation between the leaders of the EU plus UK in Paris yesterday and again today, virtually.

Conversation about war's end and post-war. In the meantime, more sanctions from the EU directed at the shadow fleet, naming 73

shadowed fleet tankers and 13 banks. Michael, a very good evening to you. Every time we mention

oil, we think about the sanctions regime and it's leaking because of the shadow fleet. Last week we had a report that the European Union or NATO were finally going to do something

about those tankers and intercept them if they crossed in front of their war fleet.

Now they're sanctioning 73 shadow tankers carrying oil.

Is it effective, Michael, or is this rhetoric that we get out of Europe?

No, it is effective.

It is important because if you look at the price of oil, which is a great indicator for

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